Anguilla
[Last updated: 09/05/23]
Regulatory contact:
Charo Richardson
Address of regulator
Anguilla Financial Services Commission
MAICO Building, P.O. Box 1575, The Valley, Anguilla, B.W.I.
Telephone Number
Phone: +1 264 497 5881
Fax: +1 264 497 5872
Email Address
info@afsc.ai
Website
www.fsc.org.ai
Name of Captive Legislation
Insurance Act
Year Legislation Passed
2004
Recent Amendments
Amendments to the Insurance Act were enacted in 2018 to allow for a new type of structure, Producer-Affiliated Reinsurance Companies (“PARCs”)
Do you allow Cell Captives?
Yes
Total Number of Licenced Captives
Captives – 62
Cell Accounts- 18
Number of Risk Retention Groups or Group Captives
N/A
Number of Single Parent Captives
N/A
Number of Cell Captives
19
Number of licences granted in the past year (2022 calendar year)
1
Approximate (or Average) length of time to process a new captive
A maximum of 3 weeks for fully complete applications or 1 day for Captive Managers who have fast track approval.
Captive tax rates
Zero Tax
Minimum capitalisation rate
Class ‘B’ Insurer’s Unrestricted Licence – US$200,000
Class ‘B’ Insurer’s General Licence – US$100,000
Class ‘B’ Insurer’s Association Licence – US$100,000
Class ‘B’ Insurer’s Group Licence – US$25,000
Class ‘B’ Insurer’s Single Licence – US$10,000
For further reference see:
http://fsc.org.ai/documents/Document%20Library/Legislation/I016-Insurance%20Act.pdf
Licencing fees
See the link attached: http://fsc.org.ai/documents/Document%20Library/Legislation/Insurance%20(Amendment)%20Regulations,%202014.pdf
Industry sectors best represented in the domicile
Property & Casualty
Professional & General Liability
Marine & Aviation
Life & Annuity
Hospital & Medical Malpractice Liability
Automobile & Liability
Accident & Health
Top 5 uses for Captives in the domicile
Professional & General Liability
Property & Casualty
Hospital & Medical Malpractice Liability
Automobile & Liability
Accident & Health
Total premiums received by the Captives (2021)
$49.3M
Total value of assets under management (2021)
$414M
Captive Insurance Managers registered to conduct business in the domicile
See the FSC website for list of currently licensed insurance managers: http://fsc.org.ai/insurancere.php